Pico Far East Holdings Limited provided that the Group expects to record a significant drop in revenue, and a significant reduction in the unaudited profit attributable to the owners of the Company for the year ended October 31, 2020 to decrease by more than 80% compared to the same period in 2019. To the Board's best knowledge, the aforementioned reductions are attributable to the imposition of emergency public health measures such as lockdowns, quarantines, mandatory social distancing, closure of venues, and various travel and work restrictions by governments globally since the outbreak of COVID-19 in early 2020. This led to a decrease in the number of exhibitions and events conducted by the Company.